LAO State Budget Estimates
The Legislative Analyst has produced a preliminary state budget analysis. The full publication is at http://www.lao.ca.gov/handouts/Econ/2011/Summary_Tables.pdf but the table above is a summary. If you look at “revenue & transfers” (keeping in mind that “transfers” can hide mischief) vs. expenditures, you can see that the budget year that ended June 30 was estimated to be in surplus ($94.781 billion – $91.480 billion = a surplus of +$3.301 billion). The new budget year – assuming sufficient revenue – runs another surplus ($$88.456 billion – $85.937 billion = a surplus of +$2.519 billion). Running these estimated and assumed surpluses restores the general…
